Cummins Inc. (NYSE:CMI) Shares Sold by EP Wealth Advisors LLC

EP Wealth Advisors LLC lowered its holdings in Cummins Inc. (NYSE:CMI) by 17.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,925 shares of the company’s stock after selling 407 shares during the period. EP Wealth Advisors LLC’s holdings in Cummins were worth $461,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in CMI. Vanguard Group Inc. increased its position in shares of Cummins by 13.1% in the third quarter. Vanguard Group Inc. now owns 17,761,317 shares of the company’s stock worth $4,057,750,000 after acquiring an additional 2,055,239 shares in the last quarter. Norges Bank purchased a new position in shares of Cummins in the fourth quarter valued at $298,867,000. International Assets Investment Management LLC boosted its stake in shares of Cummins by 21,025.8% in the fourth quarter. International Assets Investment Management LLC now owns 735,177 shares of the company’s stock valued at $176,126,000 after purchasing an additional 731,697 shares during the period. iA Global Asset Management Inc. purchased a new position in shares of Cummins in the third quarter valued at $71,268,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Cummins by 3.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,343,678 shares of the company’s stock valued at $1,759,326,000 after purchasing an additional 246,025 shares during the period. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Stock Performance

Shares of CMI opened at $273.72 on Wednesday. Cummins Inc. has a one year low of $212.80 and a one year high of $304.24. The company has a 50-day moving average of $284.89 and a two-hundred day moving average of $266.49. The stock has a market cap of $37.44 billion, a price-to-earnings ratio of 20.04, a PEG ratio of 1.66 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.34 and a quick ratio of 0.84.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $5.10 earnings per share for the quarter, missing the consensus estimate of $5.11 by ($0.01). The business had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.36 billion. Cummins had a net margin of 5.70% and a return on equity of 25.38%. On average, equities research analysts expect that Cummins Inc. will post 18.84 earnings per share for the current year.

Cummins Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Shareholders of record on Friday, May 24th were paid a dividend of $1.68 per share. The ex-dividend date was Thursday, May 23rd. This represents a $6.72 dividend on an annualized basis and a yield of 2.46%. Cummins’s dividend payout ratio is currently 49.19%.

Insider Transactions at Cummins

In other news, VP Jeffrey T. Wiltrout bought 282 shares of the stock in a transaction dated Friday, May 24th. The shares were acquired at an average price of $285.11 per share, with a total value of $80,401.02. Following the acquisition, the vice president now owns 1,262 shares in the company, valued at $359,808.82. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, VP Marvin Boakye purchased 1,745 shares of Cummins stock in a transaction that occurred on Monday, May 20th. The shares were acquired at an average price of $286.04 per share, for a total transaction of $499,139.80. Following the transaction, the vice president now directly owns 1,745 shares in the company, valued at $499,139.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Jeffrey T. Wiltrout purchased 282 shares of Cummins stock in a transaction that occurred on Friday, May 24th. The shares were bought at an average price of $285.11 per share, for a total transaction of $80,401.02. Following the transaction, the vice president now owns 1,262 shares in the company, valued at $359,808.82. The disclosure for this purchase can be found here. 0.56% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CMI. UBS Group upgraded shares of Cummins from a “neutral” rating to a “buy” rating and upped their target price for the company from $254.00 to $321.00 in a research note on Friday, March 15th. TD Cowen increased their price objective on shares of Cummins from $272.00 to $292.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Truist Financial reiterated a “hold” rating and set a $319.00 price objective on shares of Cummins in a research note on Wednesday, May 15th. StockNews.com upgraded shares of Cummins from a “hold” rating to a “buy” rating in a research note on Wednesday, May 8th. Finally, Evercore ISI increased their price objective on shares of Cummins from $231.00 to $244.00 and gave the company an “in-line” rating in a research note on Tuesday, February 20th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $284.36.

Cummins Company Profile

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, electric and hybrid powertrains, and related components worldwide. It operates through five segments: Engine, Distribution, Components, Power Systems, and Accelera. The company offers diesel and natural gas-powered engines under the Cummins and other customer brands for the heavy and medium-duty truck, bus, recreational vehicle, light-duty automotive, construction, mining, marine, rail, oil and gas, defense, and agricultural markets; and offers parts and services, as well as remanufactured parts and engines.